Required information [The following information applies to the questions displayed below.] Russell Corporation sold a parcel of land valued at $522,500. Its basis in the land was $373,587. For the land, Russell received $63,000 in cash in year O and a note providing that Russell will receive $248,000 in year 1 and $211,500 in year 2 from the buyer. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is Russell's realized gain on the transaction? Realized gain